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Finance

The financial sector has made great strides in leveraging technology to get to the point where it is today, but it cannot stop here. Technology will keep on evolving and the financial industry must keep up. An important factor here, is the transformation of paper based document workflows to digital workflows. As a result, scanning has emerged as a critical business process for the financial sector and PDF has been adopted as the file format of choice for filing and archiving.

The financial sector
Banks, investment firms and mortgage companies share the same two challenges, in which technology can help: competition and compliance with government regulations. Online access to banks and investment firms changed the industry to a real-time electronic marketplace with strong competition, where clients can easily compare companies. Without technology, compliance with government regulations is nearly impossible. Because this industry is mandated to maintain documents and records for long periods, it would require entire buildings to store all documents in paper form. An important factor here, is the transformation of paper based document workflows to digital workflows. This would give easy access to the needed data and the ability to overcome all challenges ahead.

ScanFlowStore is an easy and affordable way to replace paper files with a digital archive and is being used worldwide in all sectors and industries. Also, the financial sector can benefit from ScanFlowStore, by digitizing all documents, without having to install software on local workstations. Because of this, no client software or product training are needed so everyone can use it immediately. Finance

Key challenges

  • Create audit trails
  • Control over access to information
  • Enable easier sharing of information
  • Documentation mandates regarding security and access

Benefits

  • Increase information security
  • Bates stamps and audit trail creation
  • Quicker handling of requests for information
  • Scan directly into business applications, like Sage
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